The global app creation software market is expected to grow with a CAGR of 25.3% during the forecast period. An app creation software is a program designed to accomplish human tasks more efficiently, effectively, and with less or minimum errors. The requirement for app creation software is increasing due to the need for easy accessibility to various services including payment processing, gaming, social networking, and others. The app creation software allows users to add multiple features, allows businesses to have easy access to clients, and generates revenue for businesses while a small fee is charged for the downloads.
The market demand for app creation software is increasing due to the rising need for software in smartphones, computers, tablets, and other gadgets. The increasing use of IoT technology in smartphones and computers for various applications such as e-commerce, social networking, games and others requires new app development, which in turn, increases the market demand.
In addition to these, corporates are adopting various applications with the development of new technologies to simplify their daily tasks that help in hassle-free work. For example, the maintenance of the software involves high costs, especially for updating the software according to the business requirement, thereby hindering the future market demand for app creation software. The rising government investment to digitize and centralize systems will significantly increase the market demand during the forecast period.
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The global app creation market is segmented on the basis of type, deployment type, application, end-user, and region. Based on applications, the market is categorized as payment processing, gaming, data management, social networking, entertainment, and others. Among these, the payment processing segment is dominating the market, owing to the increasing requirement for secure networks and a reduction in the use of hard cash.
Based on regions, North America is dominating the app creation software market due to rising technological investments and the need for easy solutions with changing lifestyles. The Asia-Pacific region is expected to witness significant growth during the forecast period due to the increasing number of people that is adopting low cost smartphones and other gadgets in the market.
The key players in the market are Apptology, Fuzz, LeewayHertz, Mapbox, Mokriya, Openxcell, Social, Cubix, Tappla , Zymr,Inc., and others. Various strategies such as mergers and acquisitions, partnerships, joint ventures, and others are being taken up in the market to expand their market share, to generate revenue, and to provide better solutions to users. For instance, in Dec 2016, Nagarro, Inc., a German software development and business consulting company acquired Mokriya, Inc., a company providing customized software services, to build software that will help clients with innovative digital platforms.
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